"CyberOptics has gone through a multi-year transformation of moving into 3D inspection (from 2D) which is helping it break away from a decade old continuum. Through the use of its proprietary algorithms, CYBE is speeding up inspection in its legacy Surface Mount Technology (PCBs) and Semiconductor industries which are facing never-ending miniaturization of devices. Outside of 3D inspection, CYBE’s WaferSense offering keeps production tools running, thus increasing yields. WaferSense has no competition and extensive IP protection, creating an extremely solid base of business," said Ryan.

The analyst added, "As Non-Semiconductor manufacturing becomes sophisticated, 3D automatic optical inspection is opening many doors. For industrial/medical industries, it is paramount to inspect devices (against CAD specs) and detect defects early. CYBE’s 3D technology aids in eliminating rework and manufacturing delays at impressive speeds. This unlocks a massive opportunity for 3D Scanning which is a ~$3B+ industry and not in CYBE’s revenues."

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